Residents of Maryland have had their choice of retail energy provider since 1999. Browse rates from more than 200 electricity suppliers in the Old Line State — each competing to offer the lowest kilowatt-hour rate and a variety of plans to best suit your energy needs.
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Several commissions and agencies oversee the regulation of utility companies and the distribution of energy in the Old Line State.
The Federal Energy Regulatory Commission is an independent agency that regulates the transmission of electricity, natural gas and oil across the state.
FERC also:
PJM Interconnection is a regional transmission organization — commonly called an RTO — that coordinates the movement of wholesale electricity across the mid-Atlantic, including Maryland. It manages the high-voltage electricity grid and operates a wholesale electricity market.
PJM also engages in long-term planning to provide the most cost-efficient improvements to the power grid to stabilize and possibly increase reliability and economic benefits.
The Maryland Public Service Commission is a state agency that regulates residential utility companies across the state.
In addition to setting rates, it also:
Energy customers in Maryland can purchase electricity from a deregulated retail supplier or a regulated electric utility company.
Regulated utility companies in the state include:
ESCOs are retail energy suppliers licensed by the Maryland Public Service Commission — or PSC. They set the rate and contract terms of energy supply for homes and businesses across the state.
Maryland is home to two electric cooperatives that lobby for the interests of co-ops and manages utility supplies and services:
You need to first calculate your current average electricity use. Then you can find the lowest electricity in Maryland by comparing retail electric providers and energy plans for the best fit to power your home or business.
MD Electric Choice is the state-operated energy shopping website managed by the Maryland Public Service Commission. You can compare energy plans, learn more about the state’s deregulated market and file disputes with utilities or retail electricity suppliers.
You have many third-party electricity suppliers to choose from in Maryland, each offering different rates and energy plans. Factors to weigh when researching your options come down to rates and the type of plan that fits your electricity needs and budget.
Providers in Maryland offer the choice of fixed or variable kilowatt-hour rates:
For variable rates, ask your potential provider if it limits how much rates can fluctuate, which can help you keep costs manageable.
Many suppliers and providers offer lower advertised rates or bonuses to entice new customers. These bonuses can be reflected as a lump-sum savings or percentage knocked off the standard rate.
Introductory rates can last the first quarter of your contract, for six months or even the full term. Read the fine print of any offer to understand the rate you’ll pay after the bonus and avoid overpaying for your energy in the long term.
Understand the contract system of any supplier you’re interested in. Look at available terms, how the supplier handles renewals and whether you can cancel before your contract ends.
Your electricity bills include home energy costs that can vary by utility provider or supplier.
If you choose an alternative energy option, your energy bill may include fees associated with the renewables you choose.
Once you’ve found a supplier that suits your energy needs, gather up a current monthly bill and get ready for the big switch.
You may not pay a fee to switch from a utility company to a retail provider, though most retail providers require you to enter into a contract.
You may pay a fee to terminate your contract and switch to a different retail provider. Contact your current retailer and ask about any expected fees or charges before you make the change.
The Maryland General Assembly approved the Electric Customer Choice and Competition Act In 1999, opening up the market to consumer choice. After the act passed, customers could choose to remain with their utility company or purchase electricity through an electric retail supplier.
According to the Maryland Public Service Commission, the state believed energy deregulation would “put downward pressure on costs, thus providing consumers with the lowest possible prices for electricity, to allow all customers to choose their power supplier, to provide incentives for the creation and development of innovative products and services.”
As of September 2022, the average Maryland commercial electricity rate is 1% lower than the national average, and the average Maryland residential electricity rate is 4% lower.
Deregulated energy doesn’t always mean lower costs for all. In an analysis of Energy Information Agency data, the Wall Street Journal calculated that consumers in Maryland paid $399 million more for retail electricity from 2015 through 2019 than if they’d gone through a utility company.
Some energy retailers offer a teaser rate to incentivize consumers to make the switch, only to later change the rates and charge more than utility companies. Before signing a contract, confirm with your energy supplier if the rate is subject to change, how long the rate will last and any additional fees to expect.
Maryland offers several assistance programs for those struggling to pay their energy bills, including the Maryland Energy Assistance Program, the Electric Universal Service Program and Arrearage Retirement Assistance. Reach out to the Department of Human Services to see if you qualify.
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